Value of Property

The value of a property is an estimate of its worth in the current market, based on factors like location, size, condition, and recent sales of similar properties. It represents what a buyer is willing to pay and what a seller could expect to receive. Valuing property involves analyzing these elements to determine a fair price, which can fluctuate over time due to market trends and economic conditions. This helps owners, buyers, and lenders make informed decisions about buying, selling, or financing property.